Caxton Associates LP Cuts Holdings in Sanmina Co. (NASDAQ:SANM)

Caxton Associates LP cut its position in shares of Sanmina Co. (NASDAQ:SANM) by 51.9% during the 1st quarter, Holdings Channel reports. The firm owned 4,781 shares of the electronics maker’s stock after selling 5,155 shares during the quarter. Caxton Associates LP’s holdings in Sanmina were worth $297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in Sanmina in the fourth quarter worth about $64,000. Delta Asset Management LLC TN bought a new stake in Sanmina during the 4th quarter worth approximately $85,000. Quest Partners LLC bought a new stake in Sanmina during the 4th quarter worth approximately $126,000. Blue Trust Inc. increased its holdings in Sanmina by 21.2% during the 4th quarter. Blue Trust Inc. now owns 2,448 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 428 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new stake in Sanmina during the 1st quarter worth approximately $211,000. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Sanmina from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Craig Hallum reissued a “hold” rating and issued a $62.00 price target on shares of Sanmina in a research note on Tuesday, April 30th.

Sanmina Price Performance

SANM stock traded down $0.55 during midday trading on Tuesday, reaching $74.41. The company had a trading volume of 459,484 shares, compared to its average volume of 429,388. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.00 and a quick ratio of 1.25. Sanmina Co. has a 1 year low of $43.40 and a 1 year high of $76.56. The company has a market capitalization of $4.15 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.67 and a beta of 0.92. The firm has a 50-day moving average price of $68.22 and a 200-day moving average price of $63.05.

Sanmina (NASDAQ:SANM) last released its quarterly earnings results on Monday, July 29th. The electronics maker reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Sanmina had a return on equity of 11.98% and a net margin of 3.11%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm earned $1.37 EPS. Sanmina’s quarterly revenue was down 16.6% on a year-over-year basis. On average, research analysts anticipate that Sanmina Co. will post 4.63 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total value of $230,837.04. Following the completion of the sale, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Alan Mcwilliams Reid sold 3,528 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $65.43, for a total value of $230,837.04. Following the completion of the sale, the executive vice president now owns 37,651 shares of the company’s stock, valued at approximately $2,463,504.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eugene A. Delaney sold 7,181 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $64.91, for a total transaction of $466,118.71. Following the completion of the sale, the director now directly owns 100,887 shares of the company’s stock, valued at approximately $6,548,575.17. The disclosure for this sale can be found here. 3.09% of the stock is owned by corporate insiders.

Sanmina Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.